Decisions & Orders
Silicon Slopes Capital Corp. [Revocation Order]
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2007 BCSECCOM 513
Silicon Slopes Capital Corp.
Section 171 of the
, R.S.B.C. 1996, c. 418
1 On June 2, 2004, the Executive Director made an order (the Order) under section 164 of the
R.S.B.C. 1996, c.418 (the Act) that all trading in the securities of Silicon Slopes Capital Corp. (Silicon) cease until it files the required records referred to in the Order.
¶ 2 Silicon has applied to the Executive Director for an order under section 171 of the Act and National Policy 12-202
Revocation of a Compliance-Related Cease Trade Order
to fully revoke the Order.
¶ 3 Silicon has represented to the Executive Director that:
1. Silicon was incorporated on October 14, 1998 under the
(British Columbia) and completed its transition under the
Business Corporations Act
(British Columbia) on December 7, 2005.
2. Silicon’s head office is in Vancouver, British Columbia and its management are resident in British Columbia.
3. Silicon is a reporting issuer in British Columbia and Alberta and is also subject to a cease trade order issued by the Alberta Securities Commission (the ASC).
4. Silicon has made application to the Commission for a full revocation of the Order and to the ASC for full revocation of the ASC cease trade order.
5. Silicon was a “Capital Pool Company” under the policies of the TSX Venture Exchange (the Exchange), but its shares were delisted from trading on the Exchange before the advent of the NEX board, for failure to complete its Qualifying Transaction (as defined in Exchange policies) within the requisite time period.
6. The Executive Director issued the Order against Silicon for failure to file and deliver certain financial statements as required by the Act (the Delinquent Financial Statements).
7. Silicon has now filed the Delinquent Financial Statements and is up-to-date with respect to filing its annual and interim financial statements, related management discussion and analysis and certifications.
8. Silicon also held an annual general meeting of its shareholders on May 22, 2007 and filed and delivered to its shareholders the required information circular.
¶ 4 The Executive Director is satisfied that the following order is not prejudicial to the public interest.
¶ 5 The Executive Director orders under section 171 of the Act that the Order is fully revoked.
¶ 6 August 30, 2007
Allan Lim, CA